It’s been a positive day for Sterling, which has made gains against a host of the major currencies. GBP/EUR rates have moved back above 1.14, hitting a high of 1.1462 earlier today. GBP/USD rates have also spiked towards 1.34, although the greenback has manged to find plenty of support just under this threshold.
There were also significant gains against the commodity-based currencies, with GBP/AUD, GBP/NZD & GBP/CAD rates all rising by more than a cent.
The Pound received a boost yesterday following the release of better...

The pound has been on a gentle path higher since August 2017 when we reached some of the lower points since Brexit. This was most clear against the Euro where GBPEUR dropped to 1.075 testing 8-year lows but GBPAUD retested very close to the 5-year lows of 1.60-1.61. GBPUSD was fairly close to current levels but that is explained more by US dollar movements than the pound.
At this time it was the prospect of a no deal on Brexit which drove the rates lower...

The Pound Remains Fragile
The pound has fallen significantly against the majority of major currencies following a host of poor economic data. This has put a halt to a rate hike from the Bank of England (BOE). It looks as though a rate hike this year is now unlikely.
GBP/USD – Sterling has fallen heavily against the greenback, this is not just due to the poor monetary policy forecast from the BOE it is also due to positive news from the US. US Treasury bonds now...

The pound could be in for a good week with a series of important economic releases scheduled which might create some good short-term opportunities for clients looking to buy or sell the pound. Personally, I expect the pound to struggle as recent confidence that the UK will raise interest rates starts to ebb away.
The pound has been falling ever since the Bank of England confirmed no rate hike, perhaps for this year and not until 2019. The market was very hopeful of a stronger...

Employment data and average Earnings gives the Pound a boost
Yesterday provided some much needed positive data for the UK. Things were looking very bleak following recent inflation, retail and GDP data. GDP landed at 0.1% the worst figures for five years. A rate hike from the Bank of England (BOE) was no longer justified and investors lost faith in the pound with the chance of a rate hike in 2018 looking like a long shot.
Employment data was released yesterday and proved to be impressive, ...

The pound suffered a poor performance following the Bank of England interest rate decision yesterday but has made a very small recovery since. Sterling exchange rates fell across the board yesterday on the back of the slightly more dovish commentary coming from the central bank. Although interest rates were held at 0.5% as widely expected the pound fell on the back of what was cited as an uncertain path with Brexit as well as the reduction in growth forecasts for 2018 which have been...

The pound suffered a poor performance following the Bank of England interest rate decision yesterday but has made a very small recovery since. Sterling exchange rates fell across the board yesterday on the back of the slightly more dovish commentary coming from the central bank. Although interest rates were held at 0.5% as widely expected the pound fell on the back of what was cited as an uncertain path with Brexit as well as the reduction in growth forecasts for 2018 which have been...

BoE Interest Outlook weakens Sterling
After recent gains for the pound against the majority of major currencies we have seen the fragility of sterling demonstrated. We have seen a fall in inflation, retail sales and GDP. GDP fell to a five year low at 0.1%. A rate hike from the Bank of England (BoE) was largely factored into the exchange, but following a host of poor data we could see a hike delayed and this is the cause for the current fall in the Pounds...

Inflation and Retail Sales a concern for the BoE
Following a host of positive data releases we saw significant gains for the pound against the majority of major currencies. GBP/EUR breached 1.15, GBP/AUD nearly broke 1.85 and GBP/USD got close to 1.45. There was a large rise in average wage growth and unemployment hit a 43yr low.
A transitional deal was all but agreed for Brexit, granting the UK access to the single market for two years until a full exit from the EU. This all...

The pound has rallied against most of the major currencies today with a good move higher against the Euro in particular. Rates for GBP EUR have now broken above 1.13 having seen a high of 1.1345 earlier today.
Next week is likely to be hugely important for sterling exchange rates ahead of the EU summit 22nd & 23rd March. The transitional agreement on Brexit is expected to be concluded ahead of the summit for it to be put forward to the EU commission for final...